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aditya birla minerals ltd (ABY) Details

Aditya Birla Minerals Limited engages in exploring, mining, processing, and marketing copper metal in Australia. It holds interest in the Birla Nifty copper mine located in the Great Sandy Desert Region of the East Pilbara in Western Australia; and Mt Gordon copper mine located in northwest Queensland. The company was founded in 2003 and is based in Perth, Australia. Aditya Birla Minerals Limited is a subsidiary of Hindalco Industries Limited.

aditya birla minerals ltd (ABY) Key Developments

Aditya Birla Minerals Limited Reports Audited Consolidated and Parent Earnings and Operating Results for the Year Ended March 31, 2015; Provides Capex Guidance for the Fiscal Year 2016

Jul 17 15

Aditya Birla Minerals Limited reported audited consolidated and parent earnings and operating results for the year ended March 31, 2015. For the year, on consolidated basis, reported total revenue of AUD 59,041,000 compared to AUD 317,417,000 a year ago. This reduction was mainly attributable to suspension of production at Nifty due to the unforeseen sinkhole incident, drop in mine grade, ramp up of production post sinkhole period and lower net realisation (net of Tc Rc charges) from AUD 6,853/t in fiscal year 2014 to AUD 6,120/t in fiscal year 2015. Loss before income tax was AUD 273,342,000 compared to AUD 4,267,000 a year ago. Net loss was AUD 219,712,000 or 70.11 cent basic and diluted per share attributable to ordinary equity holders of the parent compared to AUD 224,000 or 0.07 cents basic and diluted per share attributable to ordinary equity holders of the parent a year ago. Net cash flows used in operating activates were AUD 61,253,000 compared to net cash flows from operating activates of AUD 53,623,000 a year ago. Payments for plant and equipment were AUD 1,960,000 compared to AUD 10,268,000 a year ago. Payments for mine development were AUD 14,204,000 compared to AUD 23,506,000 a year ago. Loss before tax was higher compared to previous year mainly because of lower production from Nifty due to sinkhole, drop in mine grade, suspension period expenses of AUD 22.1 million at Nifty and significant impairment of group's assets by AUD 219.02 million. The capital expenditure was optimised in fiscal year 2015 as part of review of group's operations post sinkhole incident.
For the year, on parent company basis, reported total revenue of AUD 2,741,000 compared to AUD 3,195,000 a year ago. Loss before income tax was AUD 193,275,000 compared to AUD 65,000 a year ago. Net loss was AUD 204,960,000 compared to net profit of AUD 47,000 a year ago. Net cash flows used in operating activates were AUD 6,179,000 compared to net cash flows from operating activates of AUD 4,251,000 a year ago.
Ore production for fiscal year 2015 was 0.955 million tonnes at 1.56% Cu, representing 14,922 tonnes of copper in ore. This represents a decrease of 69% over the previous year due to suspension of mining operations due to the unforeseen development of the sinkhole, stope sequencing constrained by different ground domains and declining head grade. Mine development was at 3,547 meters as compared with 5,856 meters in fiscal year 2014. 123,318 tonnes of waste from development operations was trucked to the surface during the year.
The company will continue to rationalize the capex spending. The estimate for capex spending for fiscal 2016 is AUD 14 million to AUD 19 million.

Aditya Birla Minerals Limited Reports Consolidated and Parent Earnings and Production Results for the Year Ended March 31, 2015; Provides Capital Expenditure Guidance for the Fiscal 2016

May 13 15

Aditya Birla Minerals Limited reported consolidated and parent earnings for the year ended March 31, 2014. For the year on consolidated basis, reported total revenue of AUD 59,041,000 compared to AUD 317,417,000 a year ago. Loss before income tax was AUD 273,342,000 compared to AUD 4,267,000 a year ago. Net loss was AUD 219,712,000 or 70.11 cent basic and diluted per share attributable to ordinary equity holders of the parent compared to AUD 224,000 or 0.07 cents basic and diluted per share attributable to ordinary equity holders of the parent a year ago. Net cash flows used in operating activates were AUD 61,253,000 compared to net cash flows from operating activates of AUD 53,623,000 a year ago. Payments for plant and equipment were AUD 1,960,000 compared to AUD 10,268,000 a year ago. Payments for mine development were AUD 14,204,000 compared to AUD 23,506,000 a year ago.
For the year on parent company basis, reported total revenue of AUD 2,741,000 compared to AUD 3,195,000 a year ago. Loss before income tax was AUD 193,275,000 compared to AUD 65,000 a year ago. Net loss was AUD 204,960,000 compared to net profit of AUD 47,000 a year ago. Net cash flows used in operating activates were AUD 6,179,000 compared to net cash flows from operating activates of AUD 4,251,000 a year ago.
For the year, the company produced 12,698 metric tonnes of Copper against 44,565 metric tonnes of Copper a year ago.
The company will continue to rationalize the capex spending. The estimate for capex spending for fiscal 2016 is AUD 14 million to AUD 19 million.

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